Oh! I forgot to mention one thing yesterday: it has been very, very gratifying to see that a greater percentage of my student loan payments are applied to principle as opposed to interest.
For example, you'll see in the table below that in late 2010, when I started making payments, only 67% went to principle payment while a whopping 33% went to interest! Now that my overall balance is shrinking, 93% is going to principle on average, while only 7% goes to interest. Hallelujah!
| Total Paid | Principle | Interest | %P | %I | ||
| 2012 | $11,125.00 | $10,371.82 | $753.18 | 93% | 7% | |
| 2011 | $ 12,482.00 | $ 10,289.33 | $2,192.57 |
82% | 18% | |
| 2010 | $ 2,410.00 | $ 1,615.01 | $ 794.99 | 67% | 33% | |
$ 26,017.00 |
$ 22,276.16 |
$ 3,740.74 |
86% | 14% |
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